“If you’re not on board, you really have to think seriously about getting on board,” Valdes told CNBC.

“This market still has room to run higher—a lot of traders I see are really looking to get in now and I don’t see that many shorts. Any downturn is going to be shallow because you see guys getting in. So I think you can probably could get in and feel safe right now.”

Valdes said commodities are particularly attractive, but markets overall look set to gain.

“Most of the market looks pretty strong in all sectors,” he said. “It looks like we could have a real strong rest of the summer going forward.”

However, he cautioned that Friday’s unemployment number is key as it could rock the market in one direction or the other.